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Q1 a (5 points) You work at as an economics tutor, which pays $20 per hour. You split the 24 hours in the between work
Q1 a (5 points) You work at as an economics tutor, which pays $20 per hour. You split the 24 hours in the between work and leisure. You use your labour earnings, combined with your daily investment income of $175, to purchase consumption goods. You value consumption and leisure according to the following utility function: U = c1/3L2'3, so MRS = %. How may hours per day will you choose to work? What will be your level of utility? Illustrate your answer with a carefully labelled graph
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